Raymond James Financial Services Advisors Inc. Purchases 3,999 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Raymond James Financial Services Advisors Inc. grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,897 shares of the pharmaceutical company’s stock after purchasing an additional 3,999 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $12,497,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VRTX. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $25,000. Arlington Trust Co LLC increased its holdings in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the period. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $27,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $28,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group cut their target price on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Sanford C. Bernstein cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group reissued a “sell” rating and issued a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Finally, HC Wainwright raised their target price on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $430.86.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now directly owns 74,364 shares in the company, valued at $31,250,727.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares in the company, valued at $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stuart A. Arbuckle sold 4,295 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,381 shares of company stock worth $5,203,249. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.2 %

VRTX stock traded up $0.92 during mid-day trading on Friday, reaching $401.08. The company had a trading volume of 1,064,066 shares, compared to its average volume of 1,004,237. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The company has a market capitalization of $103.66 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.39. The firm has a 50 day moving average of $409.06 and a 200 day moving average of $399.73. Vertex Pharmaceuticals Incorporated has a 12 month low of $320.01 and a 12 month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same period in the prior year, the firm earned $3.33 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.